Required: Find the materials price variance

Fortes Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. Standard Quantity or Hours per Unit of Output 9.7 Standard Price or Inputs Direct materials Rate 7.80per ounce $ 38.70per hour ounces $ Direct labor 0.4 hours Variable manufacturing 6.10per hour overhead 0.40 hours S The company has reported the following actual results for the product for April: Actual output Raw materials purchased Actual cost of raw materials purchased Raw materials used in production Actual direct labor-hours Actual direct labor cost 7300units 49,900ounces $ 372,350 70,840ounces 2610hours S 105,800 $ 14,941 Actual variable overhead cost